Aclaris Therapeutics (NASDAQ:ACRS) Given Outperform Rating at Wedbush

Aclaris Therapeutics (NASDAQ:ACRS)‘s stock had its “outperform” rating reaffirmed by analysts at Wedbush in a research note issued to investors on Monday,RTT News reports. They currently have a $8.00 price objective on the biotechnology company’s stock. Wedbush’s price objective would suggest a potential upside of 426.32% from the company’s previous close.

Several other analysts have also recently weighed in on the stock. Scotiabank lowered their price objective on shares of Aclaris Therapeutics from $15.00 to $9.00 and set a “sector outperform” rating on the stock in a research report on Friday, May 9th. Cantor Fitzgerald started coverage on Aclaris Therapeutics in a research report on Tuesday, March 18th. They set an “overweight” rating on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $16.00 price target (down previously from $20.00) on shares of Aclaris Therapeutics in a research note on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $9.71.

Aclaris Therapeutics Trading Up 9.4%

ACRS stock opened at $1.52 on Monday. The firm has a 50 day moving average of $1.35 and a 200-day moving average of $1.90. The firm has a market capitalization of $164.59 million, a P/E ratio of -1.09 and a beta of 0.41. Aclaris Therapeutics has a 12 month low of $1.05 and a 12 month high of $5.17.

Aclaris Therapeutics (NASDAQ:ACRS) last released its quarterly earnings results on Tuesday, May 6th. The biotechnology company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.07. Aclaris Therapeutics had a negative net margin of 732.42% and a negative return on equity of 30.73%. Sell-side analysts predict that Aclaris Therapeutics will post -0.82 EPS for the current year.

Hedge Funds Weigh In On Aclaris Therapeutics

A number of large investors have recently added to or reduced their stakes in ACRS. Charles Schwab Investment Management Inc. purchased a new stake in Aclaris Therapeutics during the 4th quarter valued at about $82,000. Raymond James Financial Inc. purchased a new position in Aclaris Therapeutics in the 4th quarter worth approximately $383,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in Aclaris Therapeutics by 173.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 908,819 shares of the biotechnology company’s stock valued at $2,254,000 after purchasing an additional 576,413 shares during the last quarter. Commonwealth Equity Services LLC purchased a new stake in shares of Aclaris Therapeutics during the fourth quarter valued at approximately $36,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Aclaris Therapeutics by 942.0% during the fourth quarter. JPMorgan Chase & Co. now owns 88,320 shares of the biotechnology company’s stock valued at $219,000 after purchasing an additional 79,844 shares during the period. Hedge funds and other institutional investors own 98.34% of the company’s stock.

About Aclaris Therapeutics

Aclaris Therapeutics, Inc a clinical-stage biopharmaceutical company, engages in the development of novel drug candidates for immune-inflammatory diseases in the United States. The company operates through two segments, Therapeutics and Contract Research. The Therapeutics segment is involved in identifying and developing therapies to address significant unmet needs for immuno-inflammatory diseases.